Banco de Chile (BCH) Downgraded by Zacks Investment Research
According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “
Separately, ValuEngine downgraded Banco de Chile from a buy rating to a hold rating in a research note on Monday, February 4th.
A number of hedge funds and other institutional investors have recently modified their holdings of BCH. BlackRock Inc. boosted its stake in Banco de Chile by 65.3% in the 3rd quarter. BlackRock Inc. now owns 79,236 shares of the bank’s stock worth $7,216,000 after purchasing an additional 31,298 shares during the period. Quadrant Capital Group LLC boosted its stake in Banco de Chile by 2,974.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,012 shares of the bank’s stock worth $142,000 after purchasing an additional 4,849 shares during the period. World Asset Management Inc boosted its stake in Banco de Chile by 78.8% in the 4th quarter. World Asset Management Inc now owns 7,688 shares of the bank’s stock worth $220,000 after purchasing an additional 3,388 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Banco de Chile by 200.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,101 shares of the bank’s stock worth $2,176,000 after purchasing an additional 50,734 shares during the period. Finally, Wetherby Asset Management Inc. boosted its stake in Banco de Chile by 228.5% in the 4th quarter. Wetherby Asset Management Inc. now owns 10,123 shares of the bank’s stock worth $290,000 after purchasing an additional 7,041 shares during the period. Institutional investors and hedge funds own 1.28% of the company’s stock.
About Banco de Chile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.
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